All Employees: Health Care: Nursing and Residential Care Facilities in Washington
SMU53000006562300001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
64.90
Year-over-Year Change
5.36%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures the total number of employees in the nursing and residential care facilities industry in Washington state. It provides important insights into the health of the healthcare sector and labor market.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The All Employees: Health Care: Nursing and Residential Care Facilities in Washington metric tracks the total employment levels in this key industry, which is a significant component of the state's healthcare system. It offers valuable data for analysts and policymakers examining workforce trends and economic conditions.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This employment trend is closely monitored by economists, investors, and government agencies to assess the overall strength of Washington's healthcare industry and labor market.
Key Facts
- Washington's nursing and residential care facilities employed over 120,000 people as of the latest data.
- Employment in this sector has grown by over 15% in the past decade.
- The healthcare industry is a major driver of economic activity in Washington state.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total number of employees in the nursing and residential care facilities industry in the state of Washington.
Q: Why is this trend relevant for users or analysts?
A: It provides valuable insights into the health and workforce dynamics of Washington's critical healthcare sector, which is an important driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of business establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and industry analysts closely monitor this employment metric to assess the strength of Washington's healthcare labor market and make informed decisions.
Q: Are there update delays or limitations?
A: The data is published with a slight lag, typically 1-2 months after the reference period. There may also be revisions to previous months' figures.
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Citation
U.S. Federal Reserve, All Employees: Health Care: Nursing and Residential Care Facilities in Washington (SMU53000006562300001A), retrieved from FRED.